California State Teachers Retirement System Has $6.18 Million Stake in Universal Display Co. (NASDAQ:OLED)

California State Teachers Retirement System trimmed its stake in Universal Display Co. (NASDAQ:OLED) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,297 shares of the semiconductor company’s stock after selling 475 shares during the period. California State Teachers Retirement System’s holdings in Universal Display were worth $6,184,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Universal Display by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock worth $699,435,000 after acquiring an additional 67,590 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Universal Display by 2.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock worth $370,838,000 after acquiring an additional 69,043 shares during the period. Geode Capital Management LLC grew its holdings in Universal Display by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock worth $131,806,000 after acquiring an additional 101,963 shares during the period. Jennison Associates LLC grew its holdings in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after acquiring an additional 251,557 shares during the period. Finally, Norges Bank acquired a new stake in Universal Display during the 4th quarter worth about $95,924,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OLED shares. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Roth Mkm increased their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup decreased their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group cut their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna cut their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Price Performance

OLED stock opened at $142.03 on Monday. The stock has a market capitalization of $6.75 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. The company’s 50-day moving average is $133.46 and its 200-day moving average is $145.97. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million for the quarter, compared to analysts’ expectations of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a yield of 1.27%. Universal Display’s payout ratio is 37.42%.

Universal Display Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.